'Red Dawn' remake may not get released

The MGM-backed remake of Red Dawn may not get a release due to the financial plight of the studio, says the Los Angeles Times.

The action-thriller, about a group of US teens who fight off an invasion from Chinese and Russian soldiers, had been scheduled to open in cinemas on November 24, but MGM's spiralling debts has meant that the movie has had to be withdrawn from release.

The increasing financial uncertainty surrounding MGM has prompted producers Michael G. Wilson and Barbara Broccoli to put the next James Bond movie on "indefinite hold" and Guillermo del Toro to quit as director of The Hobbit.

MGM did manage to release Hot Tub Time Machine earlier this year, however its Adam Sandler comedy The Zookeeper has been handed over to Sony for US distribution.